What To Know About Oil & Gas So Far In 2020

What To Know About Oil & Gas So Far In 2020

As the new decade begins, the gas and oil industries are looking towards the future. Shifting economic, political, and environmental concerns are having a big impact on these fields. Knowing what to expect can help much better prepare for the upcoming months. Here are some of the biggest trends to look out for in 2020. Stabilized Prices Overall, pricing is looking very rewarding. The huge dip from 2014 seems to be in the past. The industry is beginning to recover, and there is no longer an expectation that it will decline. Though no huge spikes in pricing are expected, a slow yet positive increase is expected. Thanks to some new treaties and a lack of competition, companies are able to offer consumer-friendly rates while still making a solid profit. Natural gas is not having as favorable profits as oil lately, but it seems to be coming back slowly from the downturn. Increased Infrastructure There is a big focus on the infrastructure for the oil industry lately. Due to being in the public eye, companies are beginning to realize that their infrastructure greatly impacts people’s perception of them. The big trends seem to be underground pipelines and the production of larger processing and storage facilities. With all sorts of new technology being developed, companies are looking to install more advanced equipment in many areas. More Career Opportunities For those working in the oil and gas fields, the outlook is very promising. There have been a lot of business investments that are leading to new companies and more potential positions. Thanks to the economic boost, there are more opportunities for people...
Oil and Gas Trends to Look for in 2020

Oil and Gas Trends to Look for in 2020

With an average of over 15.3 million barrels of oil produced per day, the United States was the most dominant oil producer in 2018. The American oil industry was able to offer a supply that kept gas prices low for consumers. With new technologies constantly arising in the industry, America’s oil industry is expected to continue growing. Investors should be on the watch for these trends from the oil and gas industry in 2020. Backtracking to 2018 The American oil industry adapted well to the changes that occurred in 2018. After the downturn of the industry in 2014, American oil and gas companies continued to devise new plans and strategies to improve their services. There are several factors that play key roles in the 2018 growth of the American oil industry. Oil production from America’s competitors decreased while the demand for oil increased around the world. Additionally, a treaty between countries that belonged to OPEC and non-OPEC countries allowed America to dig deeper into its oil production. This Year, 2019 Deloitte, a member of the “Big Four” accounting organizations, expected that oil and gas companies would experience a full recovery during 2019. As a result, many investors began to place more money into companies in the oil and gas industry. Many oil and gas companies then responded by utilizing the additional funds to improve their operations. Looking Forward to 2020 There is a possibility for future disruption in the oil and gas industry. The gradually rising costs in external industries may affect the supply costs of oil and gas companies. However, based on the industry’s track record in 2018,...